CaixaBank impulsa la venta de ladrillo y reduce su cartera a 1.500 millones

CaixaBank has significantly accelerated the sale of real estate assets and reduced its portfolio to approximately 1.5 billion euros. The sales of sold properties surged by 80% in the first half of the year compared to the same period last year, generating 109 million euros in results, including profits and provisions. In the second quarter of the year, the bank sold around 371 million euros worth of properties from auctions, up from 177 million euros in the previous quarter.

The total sales in the first half amounted to 548 million euros, an 80% increase compared to the same period last year.

The significant increase in activity has allowed the retrieval of profits and, at the same time, continued to reduce the portfolio that now stands at around 1.5 billion euros. With 922 million euros worth of sold properties available for sale (net of provisions) and an additional 585 million euros for rental assets, the total decline in available real estate assets compared to the first half of 2025 is significant.

In June of the previous year, the net available stock of sold properties was 1.273 billion euros, while the rental portfolio stood at 944 million euros. Overall, the real estate stock has decreased by approximately 710 million euros in the past twelve months.

CaixaBank has been gradually lightening its real estate portfolio, which is now lower than it was at the end of 2020 before integrating Bankia's accounts. At that time, the sold assets available for sale amounted to 930 million euros, while the rental assets totaled 1.747 billion euros. This move represents a significant change in managing a business that had previously been a source of losses for the bank.

Gonzalo Gortzar, CaixaBank's CEO, stated during the presentation of the results that the second quarter recorded higher-than-expected sales activity. However, he ruled out interpreting the results of this period as a one-off event. He expects positive profits from the sale of real estate assets in the coming quarters, but the magnitude will not be the same.

Gortzar does not anticipate repeating the exceptional level of the second quarter, but rather a slightly lower contribution. There will be some ups and downs, but he does not expect this part to be negative and will undoubtedly contribute to the result. CaixaBank anticipates that this part will leave behind negative numbers and become a recurring source of profits as the portfolio continues to be reduced.

The bank sees the appeal in these sales being performed with profits. Gortzar explained that in granular operations, CaixaBank is observing benefits close to 50% on what is being sold, a return that he considers quite significant. The sales results, including provisions, contributed 109 million euros to the first half, compared to only nine million euros a year earlier.

According to CaixaBank's strategy, the bank can dispose of non-strategic assets, reduce its real estate exposure, and, when market conditions allow, recognize profits on assets whose value has already been sufficiently provisioned. The direction set by CaixaBank is clear: fewer assets in the balance and more value reflected in the result account.

Each asset sold with a profit generates a benefit at the time of the operation, but also reduces the inventory available to generate new profits in the future. Therefore, the acceleration has two sides: in the short term, it boosts profits, and in the medium term, it reduces the stock that still needs to be monetized.